UMC Reports Fourth Quarter 2015 Results

Consolidated revenues in 4Q15 declined 4.2% sequentially to NT$33.85 billion, including NT$33.59 billion from the foundry segment. Gross profit during the quarter grew 1% QoQ to NT$6.98 billion, or 20.6% of revenue. Operating expenses went down 1.2% to NT$5.07 billion. Net other operating expenses decreased 95.8% QoQ to NT$34 million leading to an operating income of NT$1.88 billion, or 5.6% of revenue, up 91.6% from 3Q15. Net non-operating income increased 121% QoQ to NT$0.91 billion compared to NT$0.41 billion in 3Q15. Net income attributable to stockholders of the parent in 4Q15 was NT$3.16 billion, up 85.0% from NT$1.71 billion in 3Q15.

Earnings per ordinary share for the quarter was NT$0.25. Earnings per ADS was US$0.038.  The basic weighted average number of outstanding shares in 4Q15 was 12,407,897,412, compared with 12,524,504,594 shares in 3Q15 and 12,509,658,059 shares in 4Q14.  The diluted weighted average number of outstanding shares was 13,601,975,910 in 4Q15, compared with 13,694,010,855 shares in 3Q15 and 12,620,712,149 shares in 4Q14.  The fully diluted share count on December 31, 2015 was approximately 13,858,726,000.  On December 31, 2015, UMC held 334 million treasury shares acquired from the 15th and 16th share buy-back programs.

Detailed Financials Section

COGS & Expenses

(Amount: NT$ million)

4Q15

3Q15

QoQ %
change

4Q14

YoY %
change

Net Operating Revenues

33,849

35,320

(4.2)

37,235

(9.1)

COGS

(26,870)

(28,409)

(5.4)

(27,049)

(0.7)

  Depreciation

(9,700)

(9,654)

0.5

(8,495)

14.2

  Other Mfg. Costs

(17,170)

(18,755)

(8.5)

(18,554)

(7.5)

Gross Profit

6,979

6,911

1.0

10,186

(31.5)

Gross Margin (%)

20.6%

19.6%

 

27.4%

 

Operating Expenses

(5,065)

(5,126)

(1.2)

(5,672)

(10.7)

  G&A

(916)

(942)

(2.8)

(1,013)

(9.6)

  Sales & Marketing

(1,044)

(1,045)

(0.1)

(1,124)

(7.1)

  R&D

(3,105)

(3,139)

(1.1)

(3,535)

(12.2)

Net Other Operating

Income & Expenses

(34)

(804)

(95.8)

18

-

Operating Income

1,880

 

981

91.6

 

4,532

(58.5)


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